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Category Archives: Financial System

OECD – The Future of Business Survey

“The Future of Business Survey is a new source of information on small and medium-sized enterprises (SMEs). Launched in February 2016, the monthly survey – a partnership between Facebook, OECD, and The World Bank – provides timely information on how firms with a digital presence assess the current state and future outlook of their business,… Continue Reading

White Collar Prosecutions Fall to Lowest in 20 Years

Transactional Records Access Clearinghouse: “Current prosecution levels represent the lowest number of white collar prosecutions in more than 20 years. Government case-by-case records, updated through April 2018, indicate a total of 3,249 new white collar crime prosecutions were brought during the first seven months of FY 2018. If this level of activity continues at the… Continue Reading

Modern Bank Heists: Cybersecurity Threats Facing the Financial Sector

Carbon Black: “Despite investing heavily in security, financial institutions continue to experience cyber attacks at a rapid pace. Conducted primarily for the purpose of yielding illicit financial gain, cyber attacks against the financial services industry are increasing in sophistication and are often undetectable, global and instantaneous. This will be one of the themes of this… Continue Reading

Supreme Court decision – companies can use arbitration clauses to block employees class action suits

The New York Times: “The Supreme Court on Monday ruled that companies can use arbitration clauses in employment contracts to prohibit workers from banding together to take legal action over workplace issues. The vote was 5 to 4, with the court’s more conservative justices in the majority. The court’s decision could affect some 25 million… Continue Reading

Analysis – China, Russia among countries embellishing GDP data

Center for Data Innovation – referencing this Washington Post article: Exposing Faked Economic Data – “Louis Martinez, a professor at the University of Chicago, has published an analysis of 25 years of satellite data that suggests China, Russia, and other authoritarian countries routinely falsify their gross domestic product (GDP). Martinez analyzed changes in nighttime light… Continue Reading

New on LLRX – 2018 New Economy Resources and Tools

Via LLRX.com – 2018 New Economy Resources and Tools – This guide by Marcus Zillman provides researchers in multiple disciplines – law, economists, academia, government, corporate, and journalism – the latest, most reliable web resources for discovering sources to meet the multifaceted needs of time sensitive, specific, actionable work product. The global economic landscape is… Continue Reading

Robocalls: The global web of scammers who are driving you nuts

Quartz: “It won’t surprise you to hear that robocalls—those insanely annoying pre-recorded messages that are blowing up our phones—have become an epidemic. In the United States, more than 8.5 billion robocalls are made each month, but it’s a global problem in more ways than one. How did we get here? It’s a tangled tale of… Continue Reading

Financial Regulation: The Economic Growth, Regulatory Relief, and Consumer Protection Act

CRS report – Financial Regulation: The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155), May 14, 2018 “The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) was passed by the Senate on March 14, 2018. The bill generally aims to provide regulatory relief to banks, relax mortgage lending rules, relax capital… Continue Reading

Cohen files leaked by Treasury law enforcement official turned Whistleblower

New Yorker – Ronan Farrow – “Missing Files Motivated the Leak of Michael Cohen’s Financial Records – A law-enforcement official released the documents after finding that additional suspicious transactions did not appear in a government database.” “Last week, several news outlets obtained financial records showing that Michael Cohen, President Trump’s personal attorney, had used a shell… Continue Reading

TIME magazine cover story – How Baby Boomers Broke America

Steven Brill – How My Generation Broke America [Brill is the author of Tailspin, from which this article is adapted, out this month from Alfred A. Knopf.] This appears in the May 28, 2018 issue of TIME: “Lately, most Americans, regardless of their political leanings, have been asking themselves some version of the same question:… Continue Reading

Facebook loses fight with IRS over 7B tax bill from overseas income

The Register: “Facebook has lost its bid to throw out a tax bill on $7bn worth of income it had stashed overseas. A Northern District of California judge ruled in favor of the IRS this week, finding the Social Network did not have standing to challenge the tax bod’s finding that Facebook underreported its revenues… Continue Reading

Senate Intel Cmte acknowledges Russia interfered in 2016 presidential election in favor of Trump

Washington Post: “The Senate Intelligence Committee has determined the U.S. intelligence community was correct in assessing Russia interfered in the 2016 presidential election with the aim of helping then-candidate Donald Trump, contradicting findings House Republicans reached last month. “We see no reason to dispute the [intelligence community’s] conclusions,” the committee’s chairman, Sen. Richard Burr (R-N.C.),… Continue Reading